The Greek refinery Motor Oil Hellas, which is a supplier for the Pentagon’s needs, is receiving Russian-made fuel oil, according to the media.
Over the past two years, Dortyol shipping terminal in Türkiye received 5.4 million barrels of fuel oil by sea, all but 1.9 million from Russia.
Russian oil products were purchased by an oil trader from the UAE, which in turn exported it to Türkiye, from where it went to Motor Oil Hellas.
A refinery modeler and refined fuels market analyst concludes:
“I don’t see any other possible conclusion than Russian fuel is going to Motor Oil Hellas”.
The Pentagon commented on the situation saying the responsibility for compliance with sanctions lies with the suppliers themselves.
It has inked nearly $1 billion worth of new contracts with the Greek refinery since the US ban took effect in March of last year.
Since February, more than 1 million barrels of fuel from Motor Oil Hellas have also gone to government and corporate buyers in Italy, France, Spain and Britain, according to shipping records.
Therefore, the US not only use it themselves, but also resell it to European countries.
Despite the EU embargo on imports from Russia and tougher sanctions, the US continues to profit from speculation while the resource becomes more expensive.
Divide and conquer